China: End of the Belt and Road?

China: End of the Belt and Road?

June 04, 2020
By ELLIOT WILSON

Mainland Chinese firms invested $72.2 billion in Africa between 2014 and 2018, much of it through the Belt and Road Initiative. Now that Covid-19 has struck, there is a growing sense of unease in Beijing over calls to write off debt to stressed African states.

Banks step in to end African medical tourism

Banks step in to end African medical tourism

May 29, 2020
By VIRGINIA FURNESS

Covid-19 has refocused attention on the urgent need to address long-term structural healthcare issues in Africa. Investors are now looking to put money to work in healthcare and banks are seeing an uptick in demand for project financing.

Lebanese pound sees end of dollar peg

Lebanese pound sees end of dollar peg

May 07, 2020
By VIRGINIA FURNESS

The six exchange-rate system is now untenable, with the currency losing more than 50% of its value since October, but analysts say floating the currency will cause more pain without IMF support.

QIB’s Gamal warns of profit threat to every bank

QIB’s Gamal warns of profit threat to every bank

April 30, 2020
By VIRGINIA FURNESS

Profit pressure is a threat to every bank, says Qatar Islamic Bank’s group CEO Bassel Gamal, discussing how Qatar’s robust and well-capitalized banking sector is navigating the twin shocks of lower oil prices and coronavirus.

Citi steps up direct aid to buy ventilators in Kenya

Citi steps up direct aid to buy ventilators in Kenya

April 20, 2020
By VIRGINIA FURNESS

Citi’s chief executive for Kenya and east Africa tells Euromoney how Kenya’s banks have come together to buy ventilators; how Covid-19 will accelerate the adoption of digital banking; and why the removal of the interest rate cap is more important than ever for Kenya’s SMEs.

Saudi Arabia’s Vision 2030 faces its biggest test

Saudi Arabia’s Vision 2030 faces its biggest test

March 24, 2020
By VIRGINIA FURNESS

The Gulf’s largest economy is facing unprecedented challenges from the coronavirus Covid-19 and oil at $30 a barrel. Has diversification under Vision 2030 done enough to help Saudi Arabia weather the storm or will it be forced to abandon its dreams of diversification?

Nigeria could slip again on oil

Nigeria could slip again on oil

March 12, 2020
By KANIKA SAIGAL

The recent collapse in the oil price and Nigeria's (lack of) reaction to it echoes the way the country dealt with the crisis in 2015. Repetition of the same mistakes will only cause harm for Africa's largest economy.

Investment: Dubai risks a post-expo hangover

Investment: Dubai risks a post-expo hangover

March 04, 2020
By VIRGINIA FURNESS

Expo 2020 showcases economic and business opportunities in Dubai. Bankers hope it will lead to a boom in areas such as SME lending and infrastructure investment, but worry that a short-term lift will not be enough to dispel broader concerns about the country’s economy.

Gulf markets still struggle to attract investors

Gulf markets still struggle to attract investors

March 04, 2020
By VIRGINIA FURNESS

Despite MSCI index inclusion and a landmark trade by Saudi Aramco, global funds are still $70 billion underweight Gulf equities, but the UAE and Saudi are making progress in deepening markets.

DP World delisting is a blow to UAE markets

DP World delisting is a blow to UAE markets

February 20, 2020

DP World is planning to delist from the Nasdaq Dubai in a move that directly contradicts the UAE’s efforts to improve liquidity and diversity in its domestic exchanges.